The project is nearing completion and is expected to be connected to the grid in the coming months.
Additionally, Phoenix Insurance has converted a €4.2 million loan into a 49% stake in the project's special purpose vehicle. The remaining loan will be converted into an unsecured shareholder loan.
Econergy is also developing a pipeline of 200 MW of solar projects in Romania, for which Phoenix Insurance has options to convert loans into equity.
Arctic Paper S.A. has announced the acquisition of a 4 MW solar park located near Warsaw, Poland.
The financing is for a logistics center in Bydgoszcz developed for a leading e-commerce firm.
EIB and ORLEN Group, Poland's largest energy company, signed a €200 million loan agreement for projects supporting energy transition.
The European Commission has endorsed a positive preliminary assessment of Poland's payment request for the second and third instalments for €9.4 billion.
OMV Petrom has initiated construction on its largest solar project in Romania.
EBRD will support the development of high-quality, energy-efficient residential housing in Poland through a €100 million loan to the Polish subsidiaries of Vantage Development.
Lidl Romania aims to contribute to the development of sustainable local agriculture by promoting organic farming and regenerative farming practices, which contribute to soil health and biodiversity conservation.
The EU has emerged as a global leader in green finance, having issued over €65 billion in NextGenerationEU (NGEU) Green Bonds since 2020.
Roeslein & Associates, a leading engineering, procurement, and construction (EPC) services company, announced the opening of its new European Design Center in Krakow, Poland.
The global energy transition, projected to cost €190 trillion by 2050, could see cost reductions of nearly 25% through the use of de-risking instruments.
The Romanian Ministry of Energy launched a grant program funded by the Modernization Fund.
